The Indian Institute of Technology (IIT) Bombay has achieved impressive results in its placement season for the academic year 2023-24. The latest report, released on Tuesday, shows that nearly 75% of students registered for placements have secured jobs.
With 2,414 students participating, the institute placed 1,475 students, marking the second-highest placement figures ever recorded, just shy of the previous year's peak of 1,516 placements.
This year saw an 11% increase in students registering for placements. The average salary package has jumped by 7.7%, rising from INR 21.82 LPA to INR 23.5 LPA, indicating a solid rebound in the job market following the pandemic. Recruiting companies also increased by 12%, with 364 firms participating.
Notably, placements for mechanical engineering students improved significantly, with 217 securing jobs compared to 171 last year. However, there was a slight decline in computer science placements, with 242 students placed this year versus 273 in the previous year.
The report also notes that many of the remaining unplaced students have opted for alternatives such as further education or entrepreneurship—additionally, 32 out of 118 PhD candidates who registered for placements accepted job offers.
Key highlights include:
- Total students registered: 2,414
- Active participants: 1,979
- Total job offers: 1,650
- International job offers: 78
- Average CTC: INR 23.5 LPA
- Median salary: INR 17.92 LPA